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20121004
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CSPAN 1
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CSPAN
Sep 26, 2012 7:00am EDT
debate at the heart of the presidential race, which is, going forward, this is the obama administration's tagline. they would say let's let the agency do its job. the republican position is is ill-advised and we would like kill it or change it. host: how widespread is predatory lending these days and what is the agency currently doing about? about guest: predatory lending is deceptive lending practices o. it is extremely widespread. if you pick up a credit card application, you will see dozens of pages of fine print that is hard for anybody to really get through and most people don't even try. there are teaser rates, for instance, a lower rate on credit cards in a short amount of time that would triple or quadruple and they don't tell you that the upfront. it's in the fine print. it's very widespread. almost the essence of the new agency is to and changed the terms of debate so that predatory lending is very hard for companies to get away with, so that they have to make their money helping people save and invest and advance themselves financially rather than the way the system now is. s
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